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Stock Market & Financial Investment News

News Breaks
December 21, 2012
10:37 EDTGD, LMIA, NOC, BA, BAESY, LLL, FLIR, COL, LMT, RTNHouse votes to rescind defense cuts, Defense News reports
The House of Representatives last night approved a Republican bill that would cancel automatic defense cuts scheduled to occur beginning next month, according to Defense News. Democrats, however, were opposed to the measure, and it's doubtful that the Senate will vote on the legislation, the website added. Reference Link
News For LLL;LMIA;LMT;BAESY;GD;COL;BA;RTN;FLIR;NOC From The Last 14 Days
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February 12, 2016
18:15 EDTBABoeing close to decision to self-fund more F/A-18 jets, Reuters says
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11:39 EDTNOCTimetable for Northrop Grumman's $80B bomber program unclear, Reuters says
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11:18 EDTBABattleground: Analysts split on Boeing in wake of SEC probe report
Two research firms disagreed on the outlook for Boeing (BA) after Bloomberg yesterday reported that the SEC was investigating the company's accounting practices. Specifically, the agency is probing whether the airplane maker kept investors sufficiently updated about the production costs and sales of its 787 Dreamliner and 747 jumbo jet planes, the news service stated. BEARISH TAKE: Calling the news "the straw that broke the camel's back," JPMorgan analyst Seth Seifman downgraded Boeing to Neutral from Overweight. The primary risk to Boeing from the probe is that it will cause expectations for cash flows from the 787 to become "impaired," the analyst stated. Although Seifman believes that this outcome is "unlikely," he noted that cash flow from the 787 was central to his previously positive thesis about the stock. Additionally, he believes that the probe will reduce investors' already low confidence in the stock. The analyst cut his price target on the name to $120 from $142. BULLISH TAKE: The SEC probe will not hurt Boeing, as the company has been using the same accounting practices "for decades" and is "highly audited," wrote Sterne Agee CRT analyst Peter Arment. Moreover, it's too early in the 787's life cycle to accuse the company of misstating its costs, Arment contended. Additionally, 787 production costs should continue to decline, partly due to productivity gains and lower labor costs, he said. The analyst kept a $196 price target and Buy rating on the shares. SUPPLIERS: In a separate note to investors yesterday, JPMorgan's Seifman noted that Boeing suppliers Spirit (SPR) and Triumph (TGI) use a different variation of program accounting and that this issue potentially may have no implications for them. PRICE ACTION: In late morning trading, Boeing added 0.5% to $109 after dropping nearly 7% yesterday.
09:59 EDTBAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Aegerion (AEGR) downgraded to Underperform from Neutral at BofA/Merrill... Archer Daniels (ADM) downgraded to Hold from Buy at Argus... Bed Bath & Beyond (BBBY) downgraded to Perform from Outperform at Oppenheimer... Best Buy (BBY) downgraded to Perform from Outperform at Oppenheimer... Boeing (BA) downgraded to Neutral from Overweight at JPMorgan... CSX (CSX) downgraded to Market Perform from Outperform at Avondale... Comstock Resources (CRK) downgraded to Neutral from Buy at Ladenburg... EV Energy (EVEP) downgraded to Neutral from Buy at Ladenburg... FNFV (FNFV) downgraded to Market Perform from Outperform at Keefe Bruyette... Flowers Foods (FLO) downgraded to Hold from Buy at Deutsche Bank... Goldcorp (GG) downgraded to Sector Performer from Outperformer at CIBC... Group 1 Automotive (GPI) downgraded to Sector Weight from Overweight at KeyBanc... HSBC cuts Sprint (S) to sell, says competitors may make turnaround difficult... KAR Auction (KAR) downgraded to Neutral from Buy at Goldman... LINN Energy (LINE) downgraded to Sell from Neutral at Citi... LPL Financial (LPLA) downgraded to Market Perform from Outperform at Wells Fargo... Legacy Reserves (LGCY) downgraded to Neutral from Buy at Ladenburg... LinnCo (LNCO) downgraded to Sell from Neutral at Citi... Memorial Production (MEMP) downgraded to Neutral from Buy at Ladenburg... NetApp (NTAP) downgraded to Underweight from Neutral at Atlantic Equities... Netflix (NFLX) downgraded to Market Perform from Outperform at FBR Capital... Nu Skin (NUS) downgraded to Neutral from Buy at Sidoti... Oceaneering (OII) downgraded on multiple headwinds at RBC Capital... Och-Ziff Capital (OZM) downgraded to Neutral from Buy at Compass Point... Stone Energy (SGY) downgraded to Neutral from Buy at Ladenburg... Vanguard Natural (VNR) downgraded to Neutral from Buy at Ladenburg.
08:33 EDTBABoeing should be bought on weakness, says Sterne Agee CRT
Sterne Agee CRT does not expect the SEC to find any wrongdoing by Boeing,. It says the company has been using its current accounting practices for decades "and is highly audited." Moreover, the firm expects Boeing's production costs to drop sharply going forward. It recommends buying the shares on weakness, and it keeps a $196 price target on the name.
06:30 EDTBABoeing downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Seth Seifman downgraded Boeing to Neutral after Bloomberg reported of an SEC probe into program accounting on the 787 and 747. The chief risk, albeit unlikely, is impaired 787 cash flow expectations, Seifman tells investors in a research note. He views 787 cash flow as central to his investment case. The analyst cut his price target for Boeing shares to $120 from $142. The stock closed yesterday down 7% to $108.45.
05:02 EDTBAStocks with implied volatility movement; GLD DVN
Stocks with implied volatility movement; SPDR Gold Trust (GLD) 27, Boeing (BA) 43 according to iVolatility.
February 11, 2016
17:47 EDTLMTLockheed Martin awarded $141.94M government contract
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16:34 EDTBAOn The Fly: Top stock stories for Thursday
Stocks began the session deep in negative territory amid continued concerns about global growth, another drop in oil prices, renewed worries over the health of the European banking system after a poor report from Societe Generale and a surprise cut in interest rates by Sweden's central bank, putting its rates further into negative territory. Fed Chair Janet Yellen, who was giving her second day of "Humphrey-Hawkins" testimony, stayed the course and gave no indication that the central bank would change its current policy direction. The averages were jolted out their doldrums late in the day after The Wall Street Journal quoted a UAE Energy Minister as saying OPEC may consider a production cut, which brought oil off its lows and helped the average significantly cut their losses. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 269,000 last week, versus expectations for 280,000 first-time claims. Federal Reserve Chair Janet Yellen gave testimony to the Senate after presenting yesterday to members of the House of Representatives. In her testimony yesterday, Yellen said she was not certain whether she had the legal authority to cut rates into negative territory. However, other central banks around the world have recently been doing just that, with Sweden's Riksbank the latest. Sweden's central bank surprised analysts by cutting its main repo rate to minus 0.5% from minus 0.35%. Meanwhile, WTI crude oil settled down 4.5% at $26.21 per barrel, marking its lowest settlement since May 2003. Oil pared its losses in after-hours trading, however, after reports indicated that a UAE Energy Minister said OPEC members are ready to cooperate on a production cut. COMPANY NEWS: Shares of Cisco (CSCO) gained 9.6% to $24.68 after the company beat expectations for both sales and earnings, raised its dividend by 24% and approved a $15B increase to its stock repurchase program. On the opposite end of the Dow, Boeing (BA) dropped 6.8% to $108.45 after Bloomberg said the SEC is investigating its accounting and projections for its 787 Dreamliner and the 747 programs... Twitter (TWTR) dropped 4.5% to $14.31 after the company reported that its user base was flat last quarter. Research firm Pacific Crest responded to the news by downgrading the stock, with analyst Evan Wilson saying the stock may fall to as low as $11 per share as the "hope trade" ends... Tesla (TSLA) unexpectedly reported sharp losses for its fourth quarter, but its stock rallied 4.7% after the electric carmaker also projected that it will deliver 80,000-90,000 vehicles in 2016. MAJOR MOVERS: Among the notable gainers was The Fresh Market (TFM), which jumped 22% after Reuters reported that supermarket giant Kroger (KR) is in the second round of bidding for its smaller rival. Also higher was Pandora (P), which advanced 8.5% after the New York Times said the music service operator has held talks about selling the company and is working with Morgan Stanley to meet potential buyers. Also rising were shares of WebMD (WBMD), which added 4% after Ben Harrington said on his Betaville blog that the company is rumored to be working with Moelis to try to broker a deal with Walgreen Boots Alliance (WBA). Among the noteworthy losers was Mylan (MYL), which fell 18% after it reported quarterly earnings and announced it would buy Meda Aktiebolag for $9.9B. Incyte (INCY) fell 9.4% after the company reported earnings and said it would halt studies of its ruxolitinib drug to treat certain cancer tumors. Also lower were shares of Hampton Roads Bankshares (HMPR) which fell nearly 9% after agreeing to merge with Xenith Bankshares (XBKS). Xenith rose 1.5% following the deal announcement. INDEXES: The Dow fell 254.56, or 1.6%, to 15,660.18, the Nasdaq lost 16.75, or 0.39%, to 4,266.84, and the S&P 500 dropped 22.78, or 1.23%, to 1,829.08.
16:01 EDTBAOptions Update; February 11, 2016
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14:08 EDTBABoeing removed from short-term buy list at Deutsche Bank
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12:53 EDTBASpirit, Triumph use different accounting method than Boeing, says JPMorgan
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12:27 EDTBAOn The Fly: Top stock stories at midday
U.S. stocks are having another awful session as markets around the world continue to slide. The culprits are many: the prospects of slower global growth, the diminished power of central banks to prop up the markets, lower oil prices, renewed concern over the European banking system and the deleterious effect of negative interest rates are all being pointed to as contributors. Adding another dagger to the Dow is the slide in Boeing (BA), which is down nearly 10% following a report that the SEC is looking into its accounting practices. The Dow is leading the market lower with losses of about 2%, but the Nasdaq and S&P are sharply lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 269,000 last week, versus expectations for 280,000 first-time claims. Federal Reserve Chair Janet Yellen is back on Capitol Hill this morning, this time in front of the Senate after giving testimony yesterday to members of the House of Representatives. In her testimony yesterday, Yellen said she was not certain whether she had the legal authority to cut rates into negative territory. However, other central banks around the world have recently been doing just that, with Sweden's Riksbank the latest. Sweden's central bank surprised analysts by cutting its main repo rate to minus 0.5% from minus 0.35%. In Asia, Hong Kong markets re-opened after being closed in the first three days of the week for the New Year holiday and closed deeply in the red, catching up with recent global stock weakness. COMPANY NEWS: Shares of Cisco (CSCO) advanced 9% after the company beat expectations for both sales and earnings, raised its dividend by 24% and approved a $15B increase to its stock repurchase program. The stock was virtually the only bright spot for the Dow, which saw almost every other bluechip member slide, led by laggard Boeing after Bloomberg said the SEC may investigate its accounting and projections for its 787 Dreamliner and the 747 programs... The shares of Twitter (TWTR) are falling and hit a new 52-week low earlier in the session after the company reported that its user base was flat last quarter. Research firm Pacific Crest responded to the news by downgrading the stock, with analyst Evan Wilson saying the stock may fall to as low as $11 per share as the "hope trade" ends... Tesla (TSLA) unexpectedly reported sharp losses for its fourth quarter, but its stock rallied 7% after the electric carmaker also projected that it will deliver 80,000-90,000 vehicles in 2016. MAJOR MOVERS: Among the noteworthy gainers was Expedia (EXPE), which rallied 10% following the company's Q4 earnings report. Also higher were j2 Global (JCOM) and TripAdvisor (TRIP), which gained 16% and 17.5%, respectively, after reporting quarterly earnings. Among the notable losers was Mylan (MYL), which fell 18% after it reported quarterly earnings and announced it would buy Meda Aktiebolag for $9.9B. Also lower were Incyte (INCY), which fell 18.5% after the company reported earnings and said it was discontinuing studies of ruxolitinib for pancreatic cancer. Avon Products (AVP) and Monster Worldwide (MWW), slid 14% and 31%, respectively, after their own quarterly reports. INDEXES: Near midday, the Dow was down 351.43, or 2.21%, to 15,563.31, the Nasdaq was down 54.49, or 1.27%, to 4,229.10, and the S&P 500 was down 33.49, or 1.81%, to 1,818.37.
11:29 EDTBAOptions with increasing put volume
Options with increasing put volume; CPB JNPR OMF DWA CAH MAIN BA FLO DVN T COF
11:19 EDTBABoeing puts active on SEC probe report
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11:00 EDTBABoeing falls on SEC probe report
The stock is down over 8.7% to $106.14. At that price next support is at the session low at $104.91 and then at $100.78. Resistance is at $108.18.
10:48 EDTBASEC investigating Boeing accounting for 747, Dreamliner, Bloomberg reports
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10:45 EDTBABoeing puts active after Bloomberg says SEC to probe accounting
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10:45 EDTBABoeing drops after report of SEC probe into accounting
Shares of Boeing are dropping sharply after Bloomberg reported that the SEC is investigating the company's accounting for the costs and expected sales of its Dreamliner and 747 jets. The probe centers on projections the company made about the two commercial jet programs, Bloomberg said, citing a source with knoweldge of the matter. Boeing shares are down $7.75, or 6.7% to $108.61 following Bloomberg's report.
10:39 EDTBABoeing down 6.5% after Bloomberg says SEC to probe accounting
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